Indian Petrochemicals Corporation of India Ltd posted a net profit of Rs 750 million for the quarter ended December 31, 2002 as compared to a net profit of Rs 190 million in the corresponding period last fiscal. Total income has increased from Rs 11000 million in DQ-01 to Rs 15740 million in the quarter ended December 31, 2002.

Mukesh D Ambani, chairman, IPCL said, " We are delighted to note the significant improvement in IPCL's performance within a period of two quarters from the date of the acquisition by Reliance. The improved results reflect the success of the business integration process between IPCL & Reliance & demonstrate the inherent potential of IPCL and its people, which Reliance will continue to unlock to enhance overall shareholder value."

BSE Code: 500105